.png)
.png)
...Birthday boy; Favoured buyer
Car claims
My client is a specialist medical consultant. He is a sole trader for tax purposes and is highly paid. His payroll includes his wife on a salary of about £15 000 a year.
Two cars are claimed for through his business accounts and in view of his particular client bank he has purchased one upmarket sports car and a more practical everyday saloon car.
Both vehicles are subject to capital allowance claims and motoring expense claims with the appropriate private use adjustment agreed at 40% in each case.
Coincidentally our client’s wife is insured to drive these vehicles. HMRC have now asserted that in view of the fact that she is insured to drive these vehicles a benefit in kind arises upon her by virtue of the more expensive sports car being made available for her use as part and parcel...
Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.
